Automotive Contractor
For Sale
$475,000
Pending
6 MARKET PLACE COURT, Palm Coast, FL 32137
A 2,640 sq. ft. warehouse with a split layout for automotive operations and a contractor/roofing setup.
Property Size2,640 SF
Days on Market37
Property Features for 6 MARKET PLACE COURT
General Information
Standard status
Pending
Size
2,640 SF
Total Parking Spaces
15
Property subtype
Business
Building Details
Year Built
1986
Listing Agency:
BERKSHIRE HATHAWAY HOMESERVICE (FLORIDA PARK)
(386) 445-7000
Listed By:
Herbert Ankrom · License #3600291
Source:
Dennisrealty
Added: Jul 24
Changed: Aug 28
Last Checked: Aug 28 at 12:29PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of BERKSHIRE HATHAWAY HOMESERVICE (FLORIDA PARK)
Investment Insights
Based on property information with market context.
This property is a 2,640 sq. ft. warehouse built with a split interior configuration for two commercial uses. Two-thirds of the space is customized for automotive operations, including drive-in access and service space. The remaining one-third is set up for a contractor/roofing division with dedicated operational and storage space.
The site includes dedicated off-street parking for 12 to 15 vehicles, supporting day-to-day loading, service, and contractor activity. Walkability is limited, with the area described as car-dependent.
For buyers seeking an income-producing asset, the property is presented as having existing tenants in place and a turnkey setup across both functional areas.
The site includes dedicated off-street parking for 12 to 15 vehicles, supporting day-to-day loading, service, and contractor activity. Walkability is limited, with the area described as car-dependent.
For buyers seeking an income-producing asset, the property is presented as having existing tenants in place and a turnkey setup across both functional areas.
Key Highlights
- 2,640 sq. ft. commercial warehouse built in 1986 with a split layout for automotive and contractor/roofing operations
- Two‑thirds of the space is customized for automotive use with drive‑in access and service space
- One‑third of the facility is set up for an established contractor/roofing division with operational and storage space
Financial Insights
Estimated NOI and Cap Rate
NOI = area × lease_rate × (100 − vacancy) / 100 × (1 − expense_ratio). Net Operating Income — what the owner takes home each year before mortgage payments and income tax. Effective rent (asking rent minus vacancy losses) minus operating costs (taxes, insurance, maintenance, management).
NOI / Yr
$37,949
Cap rate = NOI / list price × 100. Capitalization rate — annual return on a fully cash purchase, before financing. NOI divided by price. Higher means more income per dollar invested, but usually also more risk or older condition. 5–8% is typical for stabilized commercial property; double digits often signal distressed deals.
Cap Rate
7.99%
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$758,980
$759.0K
Cap Rate 7%
$542,129
$542.1K
Cap Rate 9%
$421,656
$421.7K
Market Conditions
NOI Build-Up for 2,640 SF
Vacancy — income lost from leasable area expected to sit empty during the year, subtracted from gross rent.
EGI (Effective Gross Income) — gross rent minus vacancy losses, the realistic income before paying operating costs.
OpEx (Operating Expenses) — recurring costs to operate the property (property tax, insurance, utilities, maintenance, management); excludes financing and capital improvements.
NOI (Net Operating Income) — income a property generates after operating costs but before financing and taxes.
Gross rent
$58.6K $22.20/SF
− Vacancy
−$4.4K −$1.67/SF
EGI
$54.2K $20.54/SF
− OpEx
−$16.3K −$6.16/SF
NOI
$37.9K $14.37/SF
Area
Flagler County, FL
Vacancy
7.50%
Lease Rate
$22.20 /SF/Yr
Expense Ratio
30.00%
Simulate Cap Rate and NOI
Suggested Prices Based on Cap Rates
Cap rates vary significantly by property type, market, and asset quality.
Typical U.S. stable-market ranges:
Multifamily — 4.5% to 6.5% (Class A in primary markets often sub-5%; Class C in secondary markets 6%+)
Industrial / Logistics — 5.0% to 7.0% (compressed heavily in recent years due to e-commerce demand)
Office — 6.5% to 9%+ (wide spread post-2020; CBD Class A vs. suburban Class B varies dramatically)
Retail — 5.5% to 8.5% (grocery-anchored on the low end, unanchored strip centers higher)
Hospitality / Hotels — 7.5% to 10%+ (higher due to operational risk)
Self-Storage — 5.5% to 7.5%
Medical Office — 6.0% to 7.5%
Net Lease (single tenant, credit) — 5.0% to 7.0% depending on tenant credit and lease term
Rules of thumb:
Primary markets (NYC, SF, LA, Boston, DC) trade at lower cap rates than secondary/tertiary markets, often by 100–200 bps (bps, aka basis points; 1 bp = 0.01%).
Class A assets trade ~50–150 bps tighter than Class B, and Class B tighter than Class C.
Cap rates move inversely with price — a lower cap rate means a higher price for the same NOI.
Spread to the 10-year Treasury is a common benchmark; historically 200–400 bps over the 10-year.
Cap Rate 5%
$758,980
Cap Rate 7%
$542,129
Cap Rate 9%
$421,656
Alternative Uses
Best Use
Retail
$542.1K
$474.4K – $632.5K
NOI $37,949 @ 7.0% cap · market cap 7.99%
Second Best
Flex RnD
$428.5K
$375.0K – $500.0K
NOI $29,998 @ 7.0% cap · market cap 6.32%
Theoretical Best
Office A
$634.4K
$555.1K – $740.2K
NOI $44,409 @ 7.0% cap · market cap 9.35%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Property Profile
Current Use
Location Intelligence
Trade Area within ½ mile
233
Businesses Nearby
Well-served
Demand for This Use
Explore this area
Business Placement
Demographics for 32137, FL
46,258
Population
24,717
Households
1.9
Avg Household Size
57
Median Age
37%
College-Educated
95%
High-School Grad
62.4 sq mi
ZIP Area
741
Density / Sq Mi
$78,731
Median Household Income
$42,249
Median Earnings
$1,790
Median Rent
$360,600
Median Home Value
Market
Vacancy Rate% for Industrial in South region
Questions? Ask Rey
Realmo’s AI knows this listing — price, zoning, demand, history. Ask anything.
Frequently Asked Questions
What type of property is this?
Flex space - A 2,640 sq. ft. warehouse with a split layout for automotive operations and a contractor/roofing setup.
Where is this flex space located?
The property is located at 6 MARKET PLACE COURT Palm Coast, FL.
What is the asking price?
The asking price for this property is $475,000.
What are key features of this property?
This property features: 2,640 sq. ft. commercial warehouse built in 1986 with a split layout for automotive and contractor/roofing operations; Two‑thirds of the space is customized for automotive use with drive‑in access and service space; One‑third of the facility is set up for an established contractor/roofing division with operational and storage space
